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Tuesday, June 28, 2011

Lawmakers May Have To Wait To Collect Pensions

Lawmakers might have to wait as long as the rest of us to retire and collect a pension. Proposed legislation from Illinois Republican Representative Bobby Schilling would prohibit lawmakers younger than the Social Security retirement age from tapping their pensions. GovExec reports members of Congress fall under Federal Employees Retirement System rules. That lets them get a full pension at 62 if they have at least five years of service. Under the proposed law, they'd have to wait at least another five years. Democrat Sherrod Brown of Ohio has introduced a similar bill in the Senate.
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4 comments:

  1. AnonymousJune 28, 2011 at 4:11 PM

    They should not get any special rights just because they are lawmakers. What happened to "everybody is equal?" Sure doesn't sound like equality to me.

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  2. AnonymousJune 28, 2011 at 4:40 PM

    "Everyone is equal, it's just that some are more equal than others".

    ReplyDelete
  3. AnonymousJune 28, 2011 at 6:21 PM

    Full pension does not mean maximum pension. It means that they don't get a penalty because they are fully vested at five years. Their pension amount is still based upon a percentage/years of service/salary. Using the words "full pension" gives people the wrong idea.

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  4. lmclainJune 29, 2011 at 1:28 PM

    LOL!! I think we have the right idea. A pension after five years? THEY made their own pension rules, unlike the rest of us "serfs"....don't even ask about the health care benefits THEY set up for themselves (it AIN'T like ours, trust me). I'm pretty sure the average citizen (unless they are in the government or a union) don't even HAVE a "pension". They have 401(k)'s, which, by indirect government action and the outright thievery of investment bankers, have been reduced to chump change. By the same people who now make sure THEY get THEIR "pension". None of THEM will be greeting customers at Wal-Mart. Yup, I pretty sure citizens got the right idea.

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